Insolvency Statistics in Canada—April 2018

Highlights

Read the report Insolvency Statistics in Canada—April 2018.

The total number of insolvencies (bankruptcies and proposals) in Canada decreased by 4.8% in April 2018 from the previous month. Bankruptcies increased by 0.1% and proposals decreased by 8.7%.

The total number of insolvencies in April 2018 was 6.6% higher than the total number of insolvencies in April 2017. Consumer insolvencies increased by 6.9%, while business insolvencies decreased by 2.0%.

For the 12-month period ending April 30, 2018, the total number of insolvencies decreased by 1.2% compared with the 12-month period ending April 30, 2017.

Consumer insolvencies for the 12-month period ending April 30, 2018, decreased by 1.1% compared with the 12-month period ending April 30, 2017. Consumer bankruptcies decreased by 7.7%, while consumer proposals increased by 5.3%. The proportion of proposals in consumer insolvencies increased to 53.8% during the 12-month period ending April 30, 2018, up from 50.5% during the 12-month period ending April 30, 2017. For the 12-month period ending April 30, 2018, consumer insolvency filings accounted for 97.1% of total insolvency filings.

Business insolvencies for the 12-month period ending April 30, 2018, decreased by 2.5% compared with the 12-month period ending April 30, 2017. The two sectors that registered the biggest decrease in the number of insolvencies were administrative and support, waste management and remediation services; and mining and oil and gas extraction. Construction; and other services (except public administration) experienced the biggest increase in insolvencies.

One Companies’ Creditors Arrangement Act (CCAA) proceeding was filed with the OSB in April 2018. Please refer to the CCAA Records List for additional details. Note: The Insolvency Statistics in Canada reports, which pertain to bankruptcies and proposals filed under the Bankruptcy and Insolvency Act, do not include CCAA filings.

Read the report Insolvency Statistics in Canada—April 2018.

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